Descartes Systems Group, a federated global logistics network, announced financial results for its fiscal 2011 second quarter, which ended July 31, 2010. The company reported revenues of $25.2 million, up 35% from $18.6 million in the second quarter of last fiscal year and up 18% from $21.3 million in the previous quarter, fuelled in part by recently completed acquisitions.
They also reported services revenues of $23.9 million, up 40% from $17.1 million in Q2FY10 and up 18% from $20.2 million in Q1FY11. Services revenues comprised 95% of total revenues for the quarter. Gross margin was 66%, compared to 68% in Q2FY10 and 65% in Q1FY11.
The United States accounted for most of Descartes revenues: $11.3 million of revenues (45%) were generated in the US as compared to $5.1 million (20%) in Europe, Middle East and Africa (“EMEA”), excluding Belgium; $4.5 million (18%) in Belgium; $3.2 million (13%) in Canada; $0.9 million (3%) in the Asia Pacific region; and $0.2 million (1%) in the Americas, excluding the US and Canada.
“Our focus is on helping customers deploy quickly, and the rapid successes they’ve achieved have contributed to our own financial results outpacing our internal plans,” said Art Mesher, Descartes’CEO. “We’re on-course strategically and look forward to the opportunities that lie ahead for Descartes. Our federated network, encompassing logistics business infrastructure, is inherent to global commerce. Our customers and United by Design partners continue to help us grow our GLN and strengthen our position as a leading SaaS provider of logistics solutions.”
